New 27-Acre Project is One of the Largest Urban Mixed Use Projects in America, Includes up to 1.7 Million Square Feet for Innovation Companies, up to 1,000 Residential Units & More Than Eight Acres of Open Space

4/4/12— Mayor Edwin M. Lee, the San Francisco Giants and the Port of San Francisco today unveiled a revised proposal for the Mission Rock development project, located at Seawall Lot 337 and Pier 48 south of AT&T Park and across the China Basin Channel. Mission Rock will feature eight acres of open space, dramatic waterfront residences, innovative office space, shops and restaurants and a refurbished historic pier.

“Mission Rock will be one of the largest urban mixed use projects in America and will become an enormous economic boost for our City,” said Mayor Lee. “It will create thousands of construction and permanent jobs and hundreds of millions of dollars in tax revenues while creating much-needed housing and open space for a growing neighborhood and office space for companies starting or expanding in San Francisco.”

The Mission Rock proposal, submitted by the San Francisco Giants and the Cordish Companies to the Port of San Francisco, includes 3.5 million square feet of development space over a 27-acre site. Nearly one third of the project site will be devoted to open space – including Mission Rock Square and China Basin Park. Construction of Mission Rock will take place over four phases and generate 4,800 job-years over the life of the project build-out. At completion, Mission Rock will support more than 7,000 permanent jobs.

“The San Francisco Giants and our partners at The Cordish Companies have been working over the past 18 months to refine and fully develop plans for the Mission Rock Project, and we are thrilled to be entering into the next stage of development,” said San Francisco Giants CEO and President Larry Baer. “This property is of great strategic importance to the Giants, and its successful development will enhance and diversify the economic position of the team, creating new revenue streams that will help us compete at the highest level. We are excited to transform and improve our neighborhood by replacing a large surface parking lot with an inspired mixed-use community featuring a spectacular waterfront park, dramatic waterfront residences, innovative work environments, original shops and cafes, and a refurbished historic pier. We look forward to working with the Port and City over the coming years to realize our shared vision for Mission Rock.”

“The Port is excited to receive the proposal for Seawall Lot 337 and Pier 48,” said Port Commission President Doreen Woo Ho. “The developer’s vision for a new neighborhood includes an urban mix of residential, commercial, retail and public open space uses that will further activate and enliven the Southern waterfront.”